HD Hyundai Unites 12 Korean Giants to Fast-Track Marine Nuclear Power

South Korea’s shipbuilding giant HD Hyundai Heavy Industries has launched a marine small modular reactor (SMR) testing hub, uniting 11 domestic organizations to accelerate nuclear-powered shipping technology. The newly formed SMR Marine Technology Demonstration Center brings together industry leaders, nuclear specialists, and academic institutions to streamline research and development efforts.

The consortium includes HD Hyundai Heavy Industries and its subsidiary HD Korea Shipbuilding & Offshore Engineering (HD KSOE), alongside nuclear engineering firms KEPCO Engineering & Construction and Hyundai Engineering & Construction. Classification society Korean Register, research hub Ulsan Technopark, and specialized manufacturers like Hyundai Heavy Industries Turbomachinery and Clad Korea also participate. Completing the group are four major universities: UNIST, Seoul National University, KAIST, and Hanyang University.

Collaborative effort to advance marine SMRs: HD Hyundai

The center will consolidate existing test equipment, research personnel, and technical expertise to develop and verify marine SMR technologies while avoiding redundant investments. Partners plan to jointly create core technologies and pursue large-scale government-backed research programs, positioning South Korea as a leader in next-generation maritime propulsion.

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HD Hyundai has been expanding its nuclear capabilities through strategic partnerships. In 2024, HD KSOE began collaborating with TerraPower—a nuclear innovation company backed by Bill Gates—and CORE POWER to develop marine reactors based on TerraPower’s molten chloride fast reactor technology. The same year, Gates met with HD Hyundai’s executive vice-chairman Chung Kisun in Seoul to strengthen cooperation, following the company’s $30 million investment in TerraPower.

From research to vessel concepts

The company has already secured a role in TerraPower’s Natrium program as a preferred manufacturer of reactor enclosure components. HD Hyundai has also translated its research into practical designs, including a nuclear electric propulsion system for a 16,000 TEU containership, which received Approval in Principle from ABS in March 2024. At the Posidonia trade fair in June, Lloyd’s Register approved an SMR-powered large car carrier concept using a molten salt reactor.

HD Hyundai has allocated KRW 300 billion ($206 million) for nuclear-powered vessel development through 2030. Beyond shipping, the company is exploring floating SMR platforms for power generation and hydrogen production, signaling broader applications for the technology.

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